Sage 500 ERP — How to Close the Period or Year in General Ledger (US)

This video from Sage Customer Support explains how to use the “Process Period End” function within Sage 500 ERP’s General Ledger to manage fiscal periods. The video outlines a three-step process involving printing financial reports, purging unnecessary data, and officially closing the fiscal period or year. Importantly, it details how the system handles year-end procedures, including the automatic creation of the next fiscal year’s accounting periods if they haven’t been predefined, and it also clarifies the ability to reopen closed periods for necessary adjustments.